Yesterday, Icahn, who has publicly said before that he doesn’t like Ackman and has “no respect” for him, ripped into his “holier than thou” short on Herbalife in an interview with Trish Regan. Icahn also called Ackman “disingenuous” and said he’s not shorting Herbalife “for the good of humanity.”

Ackman then fired back yesterday evening in a press release saying Icahn is a good investor, but he doesn’t keep his word.

He joined CNBC today to respond to his long time rival, Icahn.

Earlier in the CNBC segment, Ackman told Wapner that he finds it interesting that Icahn thinks it’s a bad thing that he gave a short at a Ira Sohn event when Icahn also gave a short thesis in 2002 and 2003 at a Sohn Conference.

Minutes into the segment, Icahn called in after the first commercial break to respond to Ackman on live TV. It couldn’t get any better!

He responded after Ackman basically called him a hypocrite.

“I’ve really sort of had it with this guy Ackman,” Icahn told CNBC.

Icahn then started going over some history of a deal from back in 2003 over Hallwood Realty when Ackman ran Gotham Partners, which was being hit with redemptions and investigated by the SEC at the time over MBIA. (Ackman was never charged with any wrongdoing.)

If you’re not familiar with the story, Ackman called Icahn and asked him to buy shares of Hallwood Realty, a real estate company trading for about $60, but Ackman said was worth $140. Hallwood merged with another company for $137 a share, Icahn wouldn’t give Ackman a cut.

A lawsuit followed and Ackman won and Icahn paid him $9-million Ackman’s investors were owed.

Icahn told CNBC that Ackman is “like the little cry baby in the schoolyard.”

“He’s the quintessential example of if you want a friend on Wall Street, get a dog,” Icahn later said.

Ackman jumped in and said that he wants to defend his reputation. He also said it’s not a “great use of CNBC air time.”

Then it went back to Icahn. Icahn said he didn’t come onto CNBC to be bullied after Wapner asked him about if he’s long Herbalife or not.

“I want to say what I want to say and I’m not going to talk about my Herbalife position because you’re bullying me…I want to talk about what I want to talk about. You can say whatever the hell you want…” Icahn shot back.

Throughout the segment, Icahn dropped some G-d bombs and “bull shit” and you could hear the floor traders at the NYSE reacting saying “Ooohhh!”

He then proceeded to slam Ackman. “As far as I’m concerned, he wanted to have dinner with me. I couldn’t figure out if he was the most acrimonious guy I met in my life or just arrogant,” Icahn said.

Wapner, who was basically a referee, tried to ask Icahn if he was long Herbalife.

“What I thank Carl for is he helped highlight issues with Herbalife,” Ackman said accusing him of buying the stock and selling it.

The attacks continued, though.

“I appreciate you calling me a great investor, but unfortunately I cannot say the same,” Icahn said.

“Bill, I appreciate you coming on. Carl, I hope you will come back,” Wapner said.

Before Icahn called in…

Ackman says that Herbalife has done harm to millions of people and it deserves scrutiny.

He says the press wrote some “fun pieces” on Bill Ackman v. Dan Loeb or Bill Ackman v. Carl Icahn. He says the goal is to shed the truth about the company and get the press dig into it.

He’s talking about short selling in the market. He notes that it’s unfortunate that they’ve lost some money so far.

He says shorts play an important role in the market.

CNBC’s Scott Wapner asked if Ackman is friends with Daniel Loeb of Third Point.

Loeb took an 8.24% stake (8.9 million shares) on the long side after Ackman’s short calling Ackman’s accusations “preposterous.”

Ackman said they’ve both been in the business a long time.

“If he [Dan Loeb] stays long Herbalife, he will lose his entire investment,” he said later in the interview.

Loeb is also reportedly short Nu Skin. Ackman says he doesn’t understand why he would be short Nu Skin when he’s long Herbalife.

Ackman says that he doesn’t need to be “loved by everyone.”

He’s also calling about Bob Chapman of Chapman Capital who he said came out and said he had a large position. Ackman says that Chapman Capital has less than a $100 million AUM.

Ackman’s Pershing Square is shorting more than 20 million shares of Herbalife — a multi-level marketing firm that sells nutrition products. Ackman believes the company is a pyramid scheme and has a price target of zero.

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